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December 06, 2010

Deal Alert: TVS completes Rs.35-Cr investment in Dusters; Co. acquires M&E-focused facilities management firm Facilitec Services

TVS Shriram Growth Fund-I, managed by Chennai-based TVS Capital, has announced that it has completed its Rs.35 crore investment commitment (originally announced in Nov-09) in Facilities Management Service provider Dusters Total Solutions Services (DTSS), with a balance Rs.10 crore tranche. Formed by merging two companies run by Shamsher and Jasmer Puri, the Bangalore-based DTSS has offices in Mumbai and other cities across 10 states.

Simultaneously, it was also announced that DTSS has acquired Facilitec Services, a Singapore- and Bangalore-based FMS provider specializing in the Service, Operations and Maintenance of Electrical and Mechanical Systems. Following the acquisition, KC Gupta, MD of Fascilitec Services will head the M&E vertical in DTSS.